The adhesives and sealants industry is a vital sector in manufacturing and construction, playing a crucial role in bonding and sealing various materials. These products are used in a wide range of applications across many industries, including automotive, construction, aerospace, electronics, medical devices, and more. Here’s an overview of the adhesives and sealants industry.
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The building and construction segment was the largest in 2020, grabbing nearly one-third of the global market and is expected to lead the trail through 2030. However, the medical segment would exhibit the fastest CAGR of 6.0% during the forecast period.
Market Trends:
- Environmental Concerns: There is a growing emphasis on eco-friendly adhesives and sealants that have low volatile organic compound (VOC) emissions and are sustainable.
The global adhesives and sealants market is analyzed across product type, application and region. Based on product type, the adhesive segment accounted for more than four-fifths of the total market share in 2020, and is projected to rule the roost by the end of 2030. The sealant segment, however, would cite the fastest CAGR of 5.4% throughout the forecast period.
- Advanced Materials: Research and development in the industry are focused on creating adhesives and sealants with enhanced properties, such as greater strength, durability, and resistance to extreme conditions.
- Automotive and Aerospace Growth: Increased demand for lightweight materials in the automotive and aerospace industries has driven the need for advanced adhesive and sealant solutions.
Asia-Pacific garnered more than two-fifths of the global market in 2020 and would maintain its leadership status during the forecast period. The same segment would witness the fastest CAGR of 5.6% during the forecast period. The other regions covered in the report include North America, Europe, and LAMEA.
- Digitalization: Industry 4.0 technologies are being incorporated into manufacturing processes, allowing for more precise application and quality control of adhesives and sealants.
Technical advancements and rise in R&D activities which led to the increased demand for a wide range electrical & electronic devices and increase in government spending on the building & construction sector act as the key drivers for the growth of the adhesives and sealants market. However, harmful effects on health due to prolonged exposure to volatile organic compounds (VOC) released during the manufacture of adhesives and sealants and increase in regulatory pressure and growing public awareness regarding health issues and adverse environmental effects are likely to diminish the demand for adhesives and sealants in various sectors, thus restraining the market growth.
- Medical and Electronics: These sectors require specialized adhesives for applications like medical device assembly and electronics packaging, where precision and biocompatibility are critical.
According to the report published by Allied Market Research, the global adhesives and sealants market was estimated at $51.9 billion in 2020 and is expected to accrue a sum of $85.0 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030.
The adhesives and sealants industry is dynamic and continues to evolve to meet the changing needs of various industries. It plays a pivotal role in ensuring the durability, safety, and performance of a wide range of products and structures.
The key players of the adhesives and sealants market analyzed in the research include Arkema S.A., BASF SE, Evonik Industries AG, H.B. Fuller, Henkel AG & Co. KGAA, Lord Corporation, Scott Bader Co., Sika AG, The 3M Company, and Uniseal, Inc.
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